PM increases EKHO ceiling

Tuesday, August 30, 2005, 09:00

The government's planned across-the-board tax EKHO will be applicable to people earning up to Ft 25 million a year instead of the earlier defined Ft 10 million, the PM told the press yesterday. The PM met representatives of relevant organizations to discuss details of the new tax bill and said that it would be ready to go before parliament for approval on November 15th. The goal of the new tax is to keep employers from evading healthcare and pension contributions due on their workers by signing bogus contracts that categorize them as entrepreneurs. The across-the-board tax will be 35%, covering income tax, employment taxes and social security contribution payments. EKHO will primarily be targeted at journalists and those working in arts, but the final list of relevant professions and trades has not yet been defined.

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